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Report Date : |
31.05.2013 |
IDENTIFICATION DETAILS
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Name : |
ROMIKIN S.A. |
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Registered Office : |
Paraguay 1535(1061ABC), Buenos Aires City |
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Country : |
Argentina |
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Date of Incorporation : |
10.10.1986 |
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Com. Reg. No.: |
113354 |
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Legal Form : |
Limited Company |
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Line of Business : |
Pharmaceutical and Veterinary Specialties
Pharmacy |
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No. of Employees : |
62 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Argentina |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
ARGENTINA - ECONOMIC OVERVIEW
Argentina benefits from rich natural resources, a highly
literate population, an export-oriented agricultural sector, and a diversified
industrial base. Although one of the world's wealthiest countries 100 years
ago, Argentina suffered during most of the 20th century from recurring economic
crises, persistent fiscal and current account deficits, high inflation,
mounting external debt, and capital flight. A severe depression, growing public
and external indebtedness, and an unprecedented bank run culminated in 2001 in
the most serious economic, social, and political crisis in the country's
turbulent history. Interim President Adolfo RODRIGUEZ SAA declared a default -
at the time the largest ever - on the government's foreign debt in December of
that year, and abruptly resigned only a few days after taking office. His
successor, Eduardo DUHALDE, announced an end to the peso's decade-long 1-to-1
peg to the US dollar in early 2002. The economy bottomed out that year, with
real GDP 18% smaller than in 1998 and almost 60% of Argentines under the
poverty line. Real GDP rebounded to grow by an average 8.5% annually over the
subsequent six years, taking advantage of previously idled industrial capacity
and labor, an audacious debt restructuring and reduced debt burden, excellent
international financial conditions, and expansionary monetary and fiscal
policies. Inflation also increased, however, during the administration of
President Nestor KIRCHNER, which responded with price restraints on businesses,
as well as export taxes and restraints, and beginning in 2007, with
understating inflation data. Cristina FERNANDEZ DE KIRCHNER succeeded her
husband as President in late 2007, and the rapid economic growth of previous
years began to slow sharply the following year as government policies held back
exports and the world economy fell into recession. The economy in 2010
rebounded strongly from the 2009 recession, but has slowed since late 2011 even
as the government continued to rely on expansionary fiscal and monetary
policies, which have kept inflation in the double digits. The government
expanded state intervention in the economy throughout 2012. In May the Congress
approved the nationalization of the oil company YPF from Spain's Repsol. The government
expanded formal and informal measures to restrict imports during the year,
including a requirement for pre-registration and pre-approval of all imports.
In July the government also further tightened currency controls in an effort to
bolster foreign reserves and stem capital flight.
|
Source
: CIA |
ROMIKIN S.A.
CUIT. Nº: 30-61116362-9
BEGINNER OF ACTIVITIES. INCORPORATED IN 1986. NOT PROVIDED BALANCE SHEET.
NO NEGATIVE. APT FOR CURRENT CREDITS AND ADDITIONAL GUARANTEES.
PHARMACEUTICAL AND VETERINARY SPECIALTIES
PHARMACY
BUSINESS TYPE: LIMITED COMPANY
INCORPORATED: 10/10/1986
REGISTERED: 18/12/1986
Lo.103 To.A
REGISTER NO.: 113354
DuraTiOn: UNTIL 18/12/2085
END OF FISCAL YEAR: JUNE 30
ACCOUNTANT: IVANNA SBROCCO
LEGAL ADDRESS AND HEADQUARTERS: Paraguay 1535(1061ABC), Buenos Aires City, Repúblic
of Argentina.
PHONE:(54-11) 4872.1200
E-mail: romikin@chemogroup.com
E-mail: consultas@romikin.com.ar
PRESIDENTE:
HUGO DANIEL VALERIO
VICEPRESIDENTE: JORGE RUBEN CASTRO
DIRECTOR TITULAR: MANUEL ALBERTO SOBRADO
DIRECTOR SUPLENTE: EMILIO
DANIEL PAPARIELLO
DIRECTOR SUPLENTE: MARIA
FLORENCIA BIN ASTIGARRAGA
Uso de firma: Se encuentra a cazrgo del Presidente y V.Presidente.
ORDINARY
SHARES:
----------------
SUBSCRIBED
AND INTEGRATED $ 185.415.322.
THE COMPANY IS A COMMERCIAL OFFICE IN
ARGENTINA FROM THE GRUPO CHEMO WITH COMPANIES IN Uruguay, Paraguay AND Bolivia,
DISTRIBUTING LOCALLY SEVERAL PHARMACEUTICAL PRODUCTS AND VETERINARY.
THIS ECONOMIC GROUP PROVIDES SOLUTIONS TO THE PHARMACEUTICAL AND CHEMICAL
INDUSTRY WORLDWIDE THROUGH:
CHEMO MARKETING (COMMERCIAL OFFICES):
---------------
> CHEMO IBERICA, Madrid (SPAIN).
> CHEMO IBERICA, Barcelona (SPAIN).
> CHEMO LUGANO BRANCH (SWITZERLAND).
> CHEM.EAST (Hungría).
> ROMIKIN (Argentina).
> CHEMO INDIAN BRANCH (India)
> CHEMO ASIA (China)
BUSINESS ALIANCES:
------------------
> NOSCH (India)
> OSMOTICA (SPAIN)
> MITHRA (BélgiUM AND Luxemburgo)
> EFFIK (FrancE, SPAIN AND ITALY)
> DALT PHARMA (Guatemala)
> MAPRIMED (Argentina)
> CHEMOTECNICA (Argentina)
> RECOMBIO (SPAIN)
CHEMO OPERATIONS (CHEMICAL IND. OF ACTIVE PRODUCTS):
-----------------
> INDUSTRIALE CHIMICA (ItalY)
> QUIMICA SINTETICA (SPAIN)
> GOLD PHARMA (China)
CHEMO OPERATIONS (PHARMACEUTICAL Ind.-FINISHED Prod.):
-----------------
> LABORATORIOS LICONSA (SPAIN)
> LABORATORIOS LEON FARMA (SPAIN)
VETERINARY PRODUCTS:
----------------------
> VETPHARMA (SPAIN)
CHEMO IS DEDICATED TO THE MANUFACTURE AND DISTRIBUTION OF FINISHED PRODUCTS IN
THE PHARMACEUTICAL AND VETERINARY INDUSTRY AND RAW MATERIALS, PRODUCTS IN
BETWEEN AND OTHER FINE CHEMICAL PRODUCTS.
BEFORE HAS LEGAL ADDRESS AND HEADQUARTERS: Avda.del Libertador 1068, piso 14o.
((1112), Buenos Aires City, Repúblic of Argentina.
By new policy of the company not provided financial information to third
parties.
REAL
ESTATE:
---------
WITHIN
THE FIXED ASSETS IT IS INCLUDED THE BUILDING DEDICATED TO ITS COMMERCIAL
ACTIVITY WITH GOOD MARKET VALUE.
Avda del Libertador 1068 de CAPITAL FEDERAL
Jose M. Moreno 1460 CAPITAL FEDERAL
VEHICLES:
----------
THE COMPANY DOES NOT OWN VEHICLES.
> GRUPO CHEMO
PEPTIDES
INTERNACIONAL ING. USA
--------------------------------
Payments:
30,60 and 90 days
Credits: u$s 3.600.000 annuals
Normal concept.
It is possible to indicate that the company
under commentary is dedicated to import and wholesale of pharmaceutical
and veterinary products.
These products are elaborated by companies of the Chemo Group that, in the last
years, has initiated its activity in the scope of products finished with
manufacture of granulated of controlled released.
Later, the group has developed to wide portfolio of generic brands and has
collaborated with other companies to offer better products in the fields of
generics, health of the woman, respiratory apparatus and other sanitary areas.
With such products, the holder develops the national market with positive
results, being observed that 5% of its sales are made in Latin American.
As far as imports, it has carried out from Chine, Spain, Korea and other
countries.
* 62 EMPLOYEES.
MAIN SUPPLIERS:
---------------
CHEMOTECNICA S.A. Argentina
MARIMED Argentina
MERICHEM Chine
ALVAN Chine
PEPTIDES INTERNATIONAL INC. USA
HWAVET TECHNOLOGIES CO LTDA. Chine
PHYTHENAPICS SOLUTIONS S.A. Spain
FOREIGN TRADE:
--------------
IN THE LAST 12 MONTHS IT HAS CARRIED OUT IMPORTS FOR u$s. 29.154.834
AS FOLLOWS:
CHINE...........................U$S 23.228.966
INDIA...........................U$S 1.624.759
SPAIN...........................U$S 974.694
OTHERS..........................U$S 3.326.415
WAREHOUSE: José María Moreno 1460, Buenos Aires City, Repúblic of
Argentina.
BANCO PATAGONIA SUDAMERIS
CENTRAL OFFICE
CITIBANK N.A.
CENTRAL OFFICE
STANDARD BANK
Central Office
CREDICOOP COOP. LTDO.,
Central Office.
INSURANCES:
-------
CREDIT RISK:
------------
MARCH
2013
BANCO CREDICOOP $ 2.588.800
PATAGONIA 838.000
AMEX 52.500
GALICIA 300
ICBC
300
CITI
300
Situation 1: Normal
IT MAINTAINS CREDIT LINE WITH LOCAL AND INTERNATIONAL COMPANIES, WORKING
WITH AMOUNTS OF RELATIVE IMPORTANCE.
* FULFILLMENT WITHOUT OBJECTIONS.
BASED ON THE PREVIOUS REVIEW, THE COMPANY IS VIABLE FOR CREDIT
OPERATIONS OF CURRENT IMPORTANCE AND ADDITIONAL GUARANTEES.
* APT FOR CURRENT CREDIT OPERATIONS.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.10 |
|
|
1 |
Rs.85.13 |
|
Euro |
1 |
Rs.72.80 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.